Neo Ivy Capital Management Sells 52,694 Shares of Concentrix Co. (NASDAQ:CNXC)

Neo Ivy Capital Management lowered its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 95.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,802 shares of the company's stock after selling 52,694 shares during the period. Neo Ivy Capital Management's holdings in Concentrix were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its stake in Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock worth $128,998,000 after acquiring an additional 823,228 shares during the period. Pzena Investment Management LLC increased its stake in Concentrix by 60.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after acquiring an additional 880,960 shares during the period. Copeland Capital Management LLC increased its stake in Concentrix by 32.9% during the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock worth $57,688,000 after acquiring an additional 329,831 shares during the period. Lyrical Asset Management LP increased its stake in Concentrix by 3.4% during the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after acquiring an additional 41,540 shares during the period. Finally, Deprince Race & Zollo Inc. increased its stake in Concentrix by 55.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after acquiring an additional 359,476 shares during the period. Institutional investors own 90.34% of the company's stock.

Wall Street Analysts Forecast Growth

CNXC has been the topic of a number of recent research reports. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Bank of America raised their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $65.75.

Concentrix Price Performance

Shares of CNXC stock traded down $0.97 during trading hours on Friday, reaching $56.47. The company's stock had a trading volume of 174,387 shares, compared to its average volume of 828,365. The firm's 50 day simple moving average is $51.79 and its 200-day simple moving average is $47.70. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.63 and a beta of 0.52. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS. Sell-side analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio (DPR) is 33.33%.

Insider Activity at Concentrix

In other Concentrix news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock valued at $1,481,628 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.